Ripple Introduces XRP Ledger (rippled) Version 1.1.0, Buckles up forFuture Regulations

Amidst fear of impending financial regulations in the US, Ripple has released its Ledger Version 1.1.0 ahead of SWELL 2018, the platform’s upcoming event featuring several policymakers.

Ripple has found itself in the center of huge controversy, the cryptocurrency regulation debate in the US hit Ripple, with claims that XRP is a security. While the company has consistently argued against it, there seems no denying that the standard Securities and Exchange Commission (SEC)’s definition when used in the crypto market, will hurt Ripple. To avoid the forthcoming issues, Ripple has introduced XRP Ledger Version 1.1.0.

What’s New in Version 1.1.0?
XRP Ledger version 1.1.0 includes a new addition- the DepositPreAuth Amendment. When used in conjunction with the pre-existing DepositAuth Amendment, it allows users to whitelist sender addresses, helping pre-authorize incoming transactions.

In its dev-blog, Ripple writes:

“XRP Ledger version 1.1.0 release also includes incremental improvements to several previously released features (fix1515 Amendment), deprecates support for the sign and sign for commands from the rippled API and improves invariant checking for enhanced security.”

The company has suggested all server operators upgrade to the XRP Ledger version 1.1.0 by Thursday, September 27. Those who fail to upgrade to the new version will become “amendment blocked,” hampering their ability to determine the validity of a ledger, voting on future amendments and participation in the consensus process. The developers have also provided detailed guidance for server operators for upgrading to the new version.

Ripple’s New Product Could Launch by Next Month
The blockchain company could be starting a commercial application of its crypto-focused product, according to Sagar Sarbhai, head of regulatory relations for Asia-Pacific and the Middle East at Ripple. Sarbhai noted on Monday:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

In a CNBC interview, he also said that the company is making significant progress with xRapid to help banks make speedier transactions using Ripple’s native currency XRP.

The company’s new strides into development could also be fueled by its upcoming event SWELL 2018 which will feature some key policymakers and influencers including former US President Bill Clinton, former National Economic Advisor to President Clinton and President Obama, Gene Sperling. Important policymakers from Abu Dhabi, the EU, and Brazil amongst others will also be present for the event.

Via blokt.com